Sodexo, one of the biggest players in the local food vouchers market, has purchased yet another 40% stake in local corporate sports and wellness subscriptions provider Benefit Seven, which owns the 7card brand.

Sodexo has thus become the majority shareholder of Benefit Seven, as it has previously purchased a 20% stake in February last year. The value of the two transactions hasn't been disclosed.

Romanian entrepreneurs Andrei Cretu, Iulian Circiumaru, and Catalin Ivascu, who founded Benefit Seven in 2011, will continue to be part of the company’s management.

"The decision to purchase the majority stake in Benefit Seven is a natural step in the development of the Sodexo portfolio of solutions for quality of life," said Sven Marinus, CEO of Sodexo Benefits & Rewards Services Romania.

Benefit Seven provides recreational, sports and wellness subscriptions for employees in Romania, under the 7card brand. At present, the company has over 900 clients (companies active in areas such as IT&C, telecommunications, pharma and healthcare, retail, financial and banking), and has more than 25,000 active subscribers. The 7card service works in the form of a monthly subscription that allows access to over 700 sports and recreation centers in 35 cities at a lower price than a single-gym subscription.

Last year, Benefit Seven registered a turnover of EUR 2.8 million, up 60% over the previous year. For 2017, the company estimates a turnover of EUR 4.5 million.

Sodexo was established in France and is currently present in 80 countries. The company entered the Romanian market in 1998, and currently has almost 1,500 employees.

Irina Marica, irina.marica@romania-insider.com